Just checked out my own home on Zillow and there was some surprising information. Zillow managed to get the right aerial photo and street address, but not much else. As of today, my home on eight acres is located on 2.59 acres and is worth $106,900. I should really be calling the county assessor's office quickly. I'm also mowing way too much grass.
The home was worth a little more six months ago -- $365,000, and still more on January 1, 2010 -- $542,000. There was a period of time between January 2010 and January 2011 when the Zestimate dropped to $154,000 before the rebound and subsequent slide to its current $106,900. Realistically, the house is worth somewhere between their high and low guesses. That's only a four hundred thousand dollar spread.
Zillow's stock may be a winner, and they have some great information for consumers. Their Zestimates are probably not their strongest suit. If they are anywhere near accurate and I decide to sell this place, I'll do it on New Years Day. Also, a copy of my home's Zestimate will become a permanent part of my pre-listing package and my buyers' orientation information.
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